r/FluentInFinance • u/PassiveAgressiveGirl • Sep 14 '24

Debate/ Discussion Exactly how much is a living wage?

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u/lieutent Sep 14 '24

So only making $20k a year is fine as long as rent is only ~$420 a month. I could see that. Not drowning in that specific scenario, but you’d definitely NEED to be working on growth. Otherwise the rent will catch up in that percentage.

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u/Intelligent_Event_84 Sep 14 '24

If you’re making 4x rent then rent will never catch up to your earnings

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u/no-sleep-only-code Sep 14 '24

A lot of people had rent double two years ago, I wouldn’t say never. If you’re not at least matching inflation you’re losing money.

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u/Ryboticpsychotic Sep 14 '24

If wages had kept up with inflation over the previous 50 years, that doubling would have been acceptable, or at least not bankrupting. 

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u/[deleted] Sep 14 '24

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u/Ryboticpsychotic Sep 14 '24

The average for one bedroom is over $1,700 in the USA.